Materion Co. (NYSE:MTRN) Position Cut by State Street Corp

State Street Corp lowered its position in shares of Materion Co. (NYSE:MTRN) by 0.7% in the 3rd quarter, Holdings Channel reports. The fund owned 966,703 shares of the basic materials company’s stock after selling 6,842 shares during the period. State Street Corp’s holdings in Materion were worth $108,135,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Quest Partners LLC grew its holdings in Materion by 25,600.0% in the 2nd quarter. Quest Partners LLC now owns 257 shares of the basic materials company’s stock worth $28,000 after buying an additional 256 shares in the last quarter. ARK Investment Management LLC acquired a new position in Materion during the 3rd quarter worth $85,000. Algert Global LLC acquired a new position in Materion during the 2nd quarter worth $225,000. Deerfield Management Company L.P. Series C bought a new position in shares of Materion in the second quarter worth $247,000. Finally, Centiva Capital LP acquired a new position in shares of Materion during the third quarter valued at $259,000. Institutional investors and hedge funds own 93.56% of the company’s stock.

Materion Stock Performance

Shares of MTRN opened at $110.60 on Monday. The firm has a market capitalization of $2.29 billion, a PE ratio of 31.16 and a beta of 1.21. The company has a quick ratio of 1.26, a current ratio of 3.15 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average price of $110.83 and a 200 day moving average price of $110.52. Materion Co. has a 52-week low of $96.18 and a 52-week high of $145.08.

Materion (NYSE:MTRN) last posted its quarterly earnings data on Wednesday, October 30th. The basic materials company reported $1.41 EPS for the quarter, meeting analysts’ consensus estimates of $1.41. The business had revenue of $436.70 million for the quarter, compared to analyst estimates of $416.40 million. Materion had a net margin of 4.45% and a return on equity of 12.06%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the business earned $1.39 earnings per share. On average, sell-side analysts anticipate that Materion Co. will post 5.24 earnings per share for the current fiscal year.

Materion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Thursday, November 14th were issued a $0.135 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.54 annualized dividend and a dividend yield of 0.49%. Materion’s dividend payout ratio (DPR) is 15.21%.

Insider Buying and Selling

In other Materion news, VP Gregory R. Chemnitz sold 2,000 shares of Materion stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $117.57, for a total value of $235,140.00. Following the transaction, the vice president now owns 12,031 shares in the company, valued at approximately $1,414,484.67. The trade was a 14.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Shelly Marie Chadwick sold 1,000 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $115.92, for a total value of $115,920.00. Following the completion of the transaction, the chief financial officer now directly owns 13,200 shares in the company, valued at $1,530,144. This represents a 7.04 % decrease in their position. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.

Materion Company Profile

Materion Corporation, together with its subsidiaries, produces advanced engineered materials used in semiconductor, industrial, aerospace and defense, automotive, energy, consumer electronics, and telecom and data center in the United States, Asia, Europe, and internationally. The company operates in four segments: Performance Materials, Electronic Materials, Precision Optics, and Other.